Speaking to ANI, Union Minister Piyush Goyal, said, “It’s an affirmation of the policies of the government being recognised worldwide. S&P has given an overall positive outlook with much praise for Modi govt’s initiative”.

However on the issue of upgrade, he said, “Didn’t expect any upgrade from S&P at this time. Moody’s has done 2 upgrades so far and S&P is known to be conservative”.

Speaking to CNBC TV-18, Rajiv Kumar, Vice Chairman of Niti Aayog said, “Status quo would mean S&P not apprised of reforms over the past three years”.